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Over the last 30 days, a sense of cautious optimism has returned to the self-storage industry. Whether it’s a seasonal uptick in move-ins, the beginning of what we hope will be a more normal leasing season, or SmartStop CEO Michael Schwartz calling the bottom of the market at this month’s SSA meeting in Orlando—there are real signs of improvement. The bottom line is that we are seeing signs that market fundamentals are improving as home loan applications are on the rise, two of the four publicly traded self-storage REITs have increased their street rates, and Argus has listed 14 new properties this month with over $100 million currently in escrow. Buyer and seller expectations appear to be aligning, and valuations are firming up.